§ Mr. Skeetasked the Secretary of State for Energy how the International Energy Agency oil-sharing scheme will be implemented, in view of the Sherman and Clayton Acts of the United States of America inhibiting market 93W co-operation; and whether he, representing a member State of the International Energy Agency, will apply to the United States of America courts for a dispensation for this purpose.
§ Mr. David HowellThe operation of the Sherman and Clayton Acts is a matter for the United States. They are parties to the agreement on short-term measures reached at the meeting of the IEA governing board at ministerial level on 9 December.
§ Mr. Skeetasked the Secretary of State for Energy whether the International Energy Agency oil-sharing scheme recently announced contains any sanction to enable redistribution of supplies as recommended by the authorities.
§ Mr. David HowellThe measures to correct serious oil supply imbalances between countries or companies, which were agreed at the meeting of the IEA governing board at ministerial level on 9 December, represent a political commitment by member countries to the implementation of a flexible and informal system to reduce undue market pressures on prices. The governing board agreed that its implementation would be "rigorously monitored".